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Railways will not buy from Mechel railway to the Elga field

Russian Railways will not buy from Mechel the railway to the Elginskoye field (located in the southeastern part of Yakutia), since the federal budget did not find 70 billion rubles for this, the Vedomosti newspaper reported, citing federal officials and a source close to Russian Railways.

“It was planned that Russian Railways would buy the railway at the expense of the federal budget, which required an increase in spending on the development program for BAM and Transsib,” the sources of the publication explain (at the moment, 562 billion rubles are planned to be allocated for this program by 2018). However, Vedomosti notes, it was not possible to agree on this with the government.

Mechel has built a 320-kilometer railway in Yakutia to the Elga coal deposit being developed by the company. The cost of building this road is about 70 billion rubles.

The head of Russian Railways Vladimir Yakunin said that the acquisition of the railway could be of interest to the company, given its location and the synergistic effect of the nearby infrastructure (the field itself and the ports owned by Mechel). Yakunin also called the idea of ​​exchanging the road in Sochi, which is on the balance sheet of Russian Railways, for the Mechel railway as interesting.

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